Has anyone heard if charges have been filed for anyone involved in the fraud yet?
Lysol54
As an Ex-BLC employee this comes as no surprise. After working for the bank for over 7 years it was very obvious that the Sr. Management was clueless to what was going on or if they really cared for there employees. They talked a good story, but they really did not care. This is real greed in little old Lancaster county. Gee, even conservative people from Lancaster County can loose site of the big picture of the people who made the bank great at one time. The real issue is that the Sr. Management is now staying on and going to work for PNC and there getting large bonuses to do this with Golden Parachutes. This is after the Bank lost a lot of money. This is not right and someone needs to look into it.
mlmaytres
Somehow I doubt any of the big shots, WHO ARE SOLELY RESPONSIBLE FOR THIS MESS, will lose their jobs. This is a joke. How can upper managment be that clueless as to what a division repsonsible for more than 50% of their bottom line is doing? The entire upper managment and board should resign in shame and be subject to the penalties of the civil justice system from the folks who lost their jobs and those that lost their investment into the company. I am so glad that I have never done business with BLC or owned Sterling Stock.
enlightened176
I would think the board members have lost quite enough. I am confused as to how board members are to blame. They put their funding and trust in people and pay them big bucks to be truthful reporters and honest investers. This is a terrible blow to many people who will lose their jobs. Hopefully, the real perpetrators of dishonesty will be punished. It seems, however, that there is a trend to rehire the whole lot to catch offenders....so maybe it goes beyond five people doing the dishonest deeds. Sounds like when my Mom would punish all of us kids to get the right one punished. That did not teach us much as only the one who was guilty actually knew who was guilty and was not saying.
Wonder
One of my "favorite" quotes from LOL from way back when: EFI is not a bank-it's a finance company. And it would be little more than an adventurous sideshow to the routine drill of Central Pennsylvania banking - if it wasn't making so much money. EFI provides lumber for Sterling Financial's long- term business strategy. The EFI division accounted for 36 percent of Sterling Financial's earnings in 2004 (see "About EFI," page 20). That's how Sterling Financial President and Chief Executive Officer J. Roger Moyer Jr. found himself discussing logging at the highbrow Hamilton Club in Lancaster during the summer as easily as if he were a lumberjack. Under Moyer's direction, Sterling bought EFI in February 2002 for $30.5 million. "It was the best single business decision of my life," Moyer said.
